Baker McKenzie's Kyiv office has supported Ukrenergo in implementing a corporate governance reform to institutionalize the supervisory board and ensure that the company's upgraded management structure is in line with OECD guidelines.
According to Baker McKenzie, "the team has prepared the restated charter documents and represented the company in negotiations with the Ministry of Energy and Coal Industry of Ukraine up until adoption of the company's updated charter on September 12, 2017."
Ukrenergo is a state-owned power company responsible for operational and technological control of the Integrated Power System of Ukraine and electricity transmission via trunk power grids from generating plants to distribution networks of regional electricity suppliers. The company’s network includes eight regional power systems, covering the entire territory of Ukraine and employing over 13 thousand individuals.
The Baker McKenzie team was led by Managing Partner Serhiy Piontkovsky and includes Senior Associate Andrii Moskalyk and Associate Oleksandr Kez. Commenting on the news, Piontkovsky noted: "This is an unprecedented case of developing a corporate governance structure and pioneering an independent board established at a state unitary enterprise. Baker McKenzie will continue to provide legal assistance to the company on its way towards corporatization and subsequent certification as a transmission system operator."
